Germany

King Sturge Real Estate Economy Index November 2008

The Downturn has yet to Hit Rock Bottom

The deterioration of the mood on the German real estate market continues unchecked. Admittedly, the November survey of the King Sturge Real Estate Economy index – being based on a monthly poll – suggests that the downward trend has slowed. Thus, the equally poll-based Real Estate Climate dropped from 55.4 index points the previous month down to the current low of 48.2 points. However, what is surprising when taking the annual development into account is the breakneck pace of the downturn. In just five months, the mood among the 1000 industry players regularly interviewed by the independent market research company BulwienGesa AG dropped by 50 index points. The most pessimistic market assessment reflects the downturn of the Real Estate Economy that is based on macroeconomic data, and that stood at 136.7 points in November (compared to 150.7 points the previous month).

Author(s): several

Source: King Sturge Deutschland

Published: 02.12.2008